The strong are always strong, will the next Web3 outlet be personal tokens?
What is the next outlet?
Is there still a chance for ordinary people?
The strong will always be strong, and the poor will always be poor. How can we break this situation?
Let's look at two cases first, and we won't discuss those superstars or super big Vs here.
In August last year, Twitter user @hunterorrell made his resignation letter into NFT and uploaded it to FoundationApp for 24-hour bidding. After several rounds of bidding, the NFT of the resignation letter was bought by @ethFRENCHIE user for 16.5ETH (1E was about $3,000 at the time). At the same time, this NFT resignation letter was also on the App's hot search.
The resignation letter expressed @hunterorrell's determination to resign and devote himself to the NFT industry. At the same time, the rights attached to the purchase of the NFT are:
1. You can decide the theme of @hunterorrell's Twitter Space in the future (must be approved);
2. Decide on the personality in Discord and have exclusive channel access;
3. It is allowed to put forward some opinions on the project, limited to 3 hours;
4. Hunter will airdrop three genesis projects for it;
5. Accompanying entity BAYC#8852.
So who is this Hunter? Twitter profile reads, Web3 Investors, Advisers and Collectors. When the resignation letter was auctioned, there were only about 10,000 Twitter fans.
Previously, there was a project called " 888 Inner Circle ", which entered the forefront of the NFT market with a turnover of more than 2.7 million US dollars within the week, and even before that, the market turnover exceeded CryptoPunks within 24 hours.
The 888 Inner Circle project is an NFT released by Twitter user @888 to celebrate the breakthrough of 88,800 Twitter followers. OpenSea also tweeted praise for this, and 888 Inner Circle may become one of the market trends.
The 888 Inner Circle project itself is a Twitter screenshot. According to Opensea data, the total number of this NFT is 8888, and there are currently more than 2277 holding addresses, and the highest unit price once exceeded 3ETH. But to put it bluntly, this project is actually a membership. As a member, there will be many benefits, such as airdrops. 888 Inner Circle has attracted the attention of many netizens since its appearance. With the development of the project, some big Vs have also entered the venue. Pranksy said that the 888 project is doing a good job, showing "less hype and more delivery", and said that she is very satisfied with the airdrop; Gary Vaynerchuk said that he is a member of the 888 project.
In the above case 1, the boss made his resignation letter into an NFT, and attached a bunch of exercisable rights. In the end, the NFT was sold at a price of 16.5ETH. Compared with the series of 888 Inner Circle and Hunter’s resignation letter, it is obvious that both It's not a one-shot deal, but it seems puzzling why such NFTs became popular. A detailed classification can also find a reasonable explanation. This type of NFT has strong social attributes, but not entirely. It can be classified as a personal token economy under social tokens.
Social Token is a kind of Token supported by personal reputation, brand or community, which is regarded as an area that has attracted more attention in the NFT field. Personal Tokens are created by individuals and will appreciate in value as the value of individuals increases. At the same time, there is also a big flaw that is greatly affected by individual behavior.
To put it simply, entrepreneurs can use personal Tokens to deeply bind users' rights and interests, allowing fans to access the works of the creator's entire social platform. Direct access to works and purchase favorite works. Through tokenization, creators can enjoy the full value of their works without being charged various fees by the platform, which just illustrates the core ecological connotation of Web3.0.
For personal Token, the higher the personal influence, the higher the value of the Token. The issuance of Token is endorsed by the promoter’s personal brand and reputation. Compared with other assets on the chain, the value of this type of native asset will be will be higher. The following cases are personal tokens that have been commercialized.
Matthew Vernon is a designer and owner of the dAppBoi website. In the past year, Matt issued 100 BOI Tokens, representing his 100 hours of work. These tokens can be redeemed for any service from UI/UX design, prototyping to branding.
Unsurprisingly, Matt's talent and innovation quickly led to the purchase of all $BOI tokens. This is a valuable experiment for us ordinary people, and we can learn from it, how to create our personal Token .
Roll is a project that provides a framework that allows anyone to create their own personal Token.
There are currently many different social currencies on the website, but these currencies are limited to a fixed supply of 10 million. Among them, 68% will be gradually released within 3 years; 20% will be automatically distributed to the creators for distribution within the community; and Roll will hold 12% of the shares to promote economic growth and provide creators with initial liquidity. For example, crypto designers like ConnieDigital sold their artworks in exchange for $HUE tokens, while Alex Masmejean exchanged $ALEX for shoutouts and time permissions on Twitter.
Pet3r Pan is the co-founder of MetaCartel and MetaCartel Ventures, and has launched $MAGIC token, a Token that can buy his time.
Pet3r created 120 $MAGICTokens, representing his 120 hours. $MAGIC helps to promote this product through the dissemination of partners, such as the following examples:
Write an article; be a guest on a podcast; create memes for users; give user feedback suggestions on how to take the DAO to the next level; conduct due diligence and evaluation on DAOs; advise on how to build a community, etc.
Another aspect we will talk about is the ecological environment. The first point is that the Token issuance platform provides a platform for Token issuers to cast and issue social Tokens. The second point is the Token creation accelerator. The main role is to incubate social tokens, such as helping creators design token models, create token standards, and so on. The third point is management tools, which are mainly used for community governance. The main functions include group verification, identity verification, voting, proposals, launching DAO, airdrops, rewards, asset sales, income farming, etc.
The Future of Personal Token
Through the above cases, we can think about, or deduce the projects that are easy to personal Token in the future.
celebrity or person of high prestige
For this kind of people, we can tokenize their future income. For example, from the early draft, we can invest in the people you like, and because you are an early investor, you also get a lot of benefits.
This kind of personal Token is a bit like venture capital. Although he does not necessarily know his next entrepreneurial direction, his peers and past investors know that no matter what he does, it is valuable. For example, now Luo Yonghao is looking for If you want to invest, you will help whatever you can, because you know that it will bring you more benefits.
From a personal point of view, creative workers will be one of the most popular jobs in the web3 era. Investors can fund creatives to further expand their brands in exchange for a percentage of future revenue or royalties on sales of products, such as songs, artwork, novels, etc.
The benefits of Human Token?1. Personal fundraising
Personal Tokens create the ability to tokenize future income. Anyone who intends to create a personal business or start-up but lacks the funds to cover the upfront costs can create a redeemable token and exchange it for the value of their time or skills.
2. Price growth
As individual tokens are sold, the market itself determines how much it is willing to pay for the service. The more buyers it has, the more it will grow and the higher its value will be, and it will allow the market to have a clearer understanding of the real-time value of the service.
3. Global customers
Tokenizing your skills, knowledge or time provides direct access to a global client base without the use of freelance platforms or other intermediaries. That means less expense, more profit.
The risk of personal Token?
1. Trust issues
Individual Token investors only rely on the issuer's commitment when purchasing future services. The reputation and trust of the issuer is the only value of an individual Token. If in the end the issuer refuses to provide the service or misses the deadline, it is tantamount to discrediting itself and the token will be worthless.
2. Price fluctuations
Decentralized platforms such as Uniswap make personal token listings very easy. If there is enough liquidity, the price of the token can skyrocket, which is undoubtedly a huge benefit for the token issuer. However, higher price volatility and volatility may pose risks to other investors.
3. Unclear regulations
While ICOs are considered illegal in many countries, individual token sales are also a bit of a gray area. Since individual tokens can be redeemed for instant services, there can be many nuances in how they should be regulated.
Regulators may not be suitable for small-scale projects. However, at some point, anyone who issues personal tokens and invests in them may face the risk of operating illegally, which also shows that there are currently no good rules to protect investors.
4. Market manipulation
No one can be sure that individual Tokens can compete fairly in the trading market, and artificially raising or selling assets is still a huge risk. Although personal Token is closely related to personal reputation, if the market is full of false information, deliberate defamation and other information, would you still trust this person? Does this also affect investors and issuers more or less?
write at the end
The tokenized economy opens up endless possibilities, creating the potential to be more efficient and attractive.
The trend toward tokenization could disrupt many industries and make them more transparent, efficient, cheaper, faster, and even more liquid, but the question is whether tokenization will become the new normal? whether it is accepted. Tokenization is undoubtedly an innovative financial tool that can provide initial funding for those who are not considered by venture capitalists, and for those who believe in them to sell their time to get funds and start running projects. business etc.
But true tokenization still has many hurdles to overcome, not the least of which is a lack of regulation. If individual tokens are considered securities, they must comply with local laws, which is safe for investors but more challenging for issuers. Therefore, there is currently no prevention mechanism against the risk of speculative future earnings of the issuer. And since individual tokens are only backed by the issuer's reputation, it's not clear what to do if serious problems arise.
All in all, personal tokenization seems to be a very open way to invest anyone's time and skills without any centralized platform, creating a mutually beneficial ecosystem, and both parties can profit from it.
Will personal Token be the next outlet of Web3?
The above views represent the views of the author only, not the views of the platform. Investment is risky, please invest carefully!